Speaker Biographies
Can Nonfinancial Indicators Succeed Where GAAP Fails?
September 3, 2003
Robert G. Eccles is cofounder and president of Advisory Capital Partners, Inc., (ACP). He is also a senior fellow of PricewaterhouseCoopers. Before starting ACP, Mr. Eccles was a full professor at Harvard Business School (HBS) where he was on the faculty for fourteen years, receiving tenure in 1989. When he left HBS, he was chairman of the Organizational Behavior and Human Resource Management Area. While at Harvard, Mr. Eccles pioneered a research methodology for identifying communication gaps in the capital markets. The culmination of nearly ten years of research and practice development in this area lies in his book The Value Reporting Revolution: Moving Beyond the Earnings Game, with Robert H. Herz, E. Mary Keegan, and David Michael Phillips, all partners at PricewaterhouseCoopers. The most recent product of this collaboration is a new book that Mr. Eccles coauthored with Samuel A. DiPiazza Jr., chief executive officer of PricewaterhouseCoopers, titled: Building Public Trust: The Future of Corporate Reporting.
Rick Frazier is the founding principal of Booth Morgan Consulting, LLC and coauthor of Winning the Race for Value (amacom, 1996). He was formerly the founder and CEO of CRS, Inc., an online information and research business, which was acquired by the R.R. Donnelley Company in 1990. For the past decade, Mr. Frazier’s consulting work has been focused on how companies can strike a balance between providing value to customers and creating value for shareholders.
Peter Fisher is under secretary of the Treasury for domestic finance. As under secretary, Mr. Fisher is the senior adviser to the treasury secretary and the deputy secretary on all aspects of domestic finance. He also serves on the board of Securities Investor Protection Corporation and chairs the Advanced Counterfeit Deterrence Steering Committee. Previously, Mr. Fisher was executive vice president of the Federal Reserve Bank of New York, where he served as the manager of the system open market account for the Federal Open Market Committee. He served at the Federal Reserve Bank for fifteen years in a variety of positions.
Cynthia A. Glassman was appointed by President George W. Bush to the U.S. Securities and Exchange Commission and sworn in on January 28, 2002. Before being appointed Commissioner, Ms. Glassman spent over thirty years in the public and private sectors focusing on financial services regulatory and public policy issues. She spent the first twelve years of her career at the Federal Reserve, first at the Federal Reserve Bank of Philadelphia and subsequently at the Board of Governors, where her positions included chief of the Financial Reports Section and special assistant to Governor Henry C. Wallich. While at the Board of Governors, Ms. Glassman spent one year on assignment to the U.S. Department of the Treasury as senior economist in the Office of Capital Markets Legislation during the Carter administration. Subsequently, she spent two years at Economists Incorporated, eight years at Furash & Company, where she was the Managing Director for the financial services regulatory and public policy practices, and five years at Ernst & Young, in the Risk Management and Regulatory Practice and the Quantitative Economics and Statistics group.
James K. Glassman is a resident fellow at AEI and the host of TechCentralStation.com. He also writes a syndicated financial column, which appears on the front page of the Washington Post business section every Sunday and is published in other newspapers, including the New York Daily News and the International Herald Tribune. Mr. Glassman is the author of The Secret Code of the Superior Investor (Crown), which Business Week called the best financial book of the 2002 season and Barron’s selected as one of the year’s ten best. His first book, Dow 36,000 (Times Books), a bestseller coauthored with the economist and AEI scholar Kevin A. Hassett, was praised by Newsweek’s Allan Sloan for its "wonderfully clear explanations of financial theory [and] excellent advice on general investing approaches." Mr. Glassman has given frequent congressional testimony, recently on subjects as varied as telecommunications policy, Securities and Exchange Commission regulations, Social Security reform, and personal investing. He is a popular speaker on economic, political, and investing topics.
Hans V. A. Johnsson is a partner in RealBiz International, a company specializing in new models for business analysis, and a senior adviser to Kreab, one of Europe´s leading corporate communications consulting companies. His background includes leading positions in banking and international engineering equipment industries, the last twenty years mainly in the United States. He also led a two-year international multi-company research project to study value-generation processes, resulting in a widely discussed report, "Return on Communications," defining and structuring the process of value-creation through "minds in interaction." Mr. Johnsson’s latest book, The Baseline Revolution: A Twenty-first Century Approach to Management and Reporting, was coauthored with Per E. Kihlstedt and has recently been published.
Pamela Cohen Kalafut is a behaviorist and expert in performance measurement and management, specializing in intangible valuation in complex business environments. Ms. Kalafut’s consulting work and research focuses on behavioral economics and in particular intangible valuation, developing causal business models, maximizing the utility of human capital, and integrated decision support systems. The results from her research and modeling work are used to develop action plans for organizational improvement initiatives. Ms. Kalafut directs Cap Gemini Ernst & Young’s intangibles practice and service offering worldwide. Her book on intangible valuation, Invisible Advantage: How Intangibles Are Driving Business Performance, was coauthored by Jonathan Low and published by Perseus Press in May 2002. Along with many published articles, her recent speaking engagements have included ABC World News, Forbes, CNNfn, Money Matters, the New York Times, CFO Magazine, and a variety of radio and television programs.
Robert S. Kaplan is the Marvin Bower Professor of Leadership Development at the Harvard Business School. Mr. Kaplan joined the HBS faculty in 1984 after spending sixteen years on the faculty of the Graduate School of Industrial Administration (GSIA) at Carnegie-Mellon University. He served as dean of GSIA from 1977 to 1983. Mr. Kaplan’s research, teaching, and consulting focus on linking cost and performance management systems to strategy implementation and operational excellence. He has been a co-developer of both activity-based costing and the Balanced Scorecard. He has authored or coauthored eleven books, eleven Harvard Business Review articles, and more than 120 other papers. Strategy Maps, his latest book with David Norton, will be published in 2004 by HBS Press. In 2002 and 2003, the Accenture Institute for Strategic Change placed him on their list of the Top 50 Thinkers and Writers on Management Topics. The Financial Times included him in its list of Top 25 Business Thinkers as well.
Baruch Lev is the Philip Bardes Professor of Accounting and Finance at New York University’s Stern School of Business and the director of the Vincent C. Ross Institute for Accounting Research and the Project for Research on Intangibles. Mr. Lev has served on the faculty of the University of Chicago, University of California-Berkeley (jointly at the business and law schools), and Tel Aviv University (where he was dean of the business school). He is a permanent visitor at Ecole Nationale Des Ponts and Chaussees (Paris) and City University Business School (London). Mr. Lev’s research spans three books and approximately seventy-five research studies published in leading accounting, finance, and economic journals. Mr. Lev’s professional experience includes public accounting (auditing), investment banking, board membership, and numerous consulting engagements in the areas of corporate valuation, intellectual property, utility regulation, securities disputes, and corporate governance issues.
Carol Stacey was appointed chief accountant of the Division of Corporation Finance at the U.S. Securities and Exchange Commission in February 2002. Ms. Stacey’s previous roles in the division include deputy chief accountant, associate chief accountant, and assistant chief accountant. She started as a staff accountant in the Division in 1996. Before joining the commission, Ms. Stacey worked for an SEC registrant in various roles, including director of financial reporting, assistant corporate controller, and divisional controller. Before that, Ms. Stacey was an auditor in the Boston office of Coopers & Lybrand.
Peter J. Wallison joined AEI in 1999 as a resident fellow and as the codirector of AEI’s program on financial market deregulation. As a partner of Gibson, Dunn & Crutcher LLP, he practiced banking, corporate, and financial law in the firm’s Washington and New York offices. As the general counsel of the Treasury Department from 1981 to 1985, Mr. Wallison helped develop the Reagan administration’s proposals for deregulating the financial services industry. During 1986 and 1987, Mr. Wallison was counsel to President Ronald Reagan. He is the author of Back from the Brink, a proposal for a system of private deposit insurance; coauthor of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; and The GAAP Gap: Corporate Disclosure in the Age of the Internet; and the editor of Serving Two Masters Yet out of Control: Fannie Mae and Freddie Mac and Optional Federal Chartering of Insurance Companies, all of which have been published by the AEI Press. More recently, Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press.
Mike Willis is a partner at PricewaterhouseCoopers. Mr. Willis has more than twenty-two years of accounting industry experience and consults with companies in their adaptation of emerging technologies for use in management reporting and decision processes. Mike Willis served as the founding chairman of XBRL International, which is currently composed of more than 200 leading software, accounting, government, and finance organizations from around the world, charged with creating an international extensible business reporting language (an XML-based open specification). XBRL is the Internet language for business reporting that is transforming the business reporting supply chain benefiting preparers, distributors, aggregators, and consumers of this information including investors and regulators.
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